Z Energy has agreed to Refining NZ's plan to turn the refinery into a terminal. Photo / Northern AdvocateFuel distributor Z Energy said it had agreed in principle to terms offered by Refining NZ to transition the Marsden Point refinery to an import terminal system. "Z will work with Refining NZ with the objective of securing final approval in the third quarter of 2021," Z Energy, which has a 15 per cent stake in Refining NZ, said. Refining NZ said the agreement reached with Z Energy - its biggest customer -follows a similar agreement reached with BP in February. About 43 per cent of Refining NZ is owned by its three customers, BP, ExxonMobil and Z Energy.

Source: New Zealand Herald May 24, 2021 22:02 UTC